June is Homeownership Month
Carol Riggles • June 1, 2021
June is Homeownership Month!
Most renters share the dream of owning their own home someday, as do most of the clients we serve in our programming efforts to provide extensive financial education and housing counseling to prepare them for their future goals, especially homeownership.
Financial education and housing counseling is crucial toward making a difference in the lives of residents who are at risk of losing their homes through foreclosure, vulnerable to identity theft and debt reduction scams, and/or unable to create and manage household budgets that foster credit repair and asset building, such as homeownership.
Homeownership has the unique potential to break the cycle of poverty for low-income families, especially for the next generation. Low-income families that become homeowners often accumulate wealth and become more self-sufficient, depending less on state and federally supported assistance programs. They have improved mental and physical health and become more active in their communities. These families are also able to offer their children a greater sense of stability. This translates into children often making better grades and staying in school longer. In addition, success for low-income homeowners improves with pre- and post-purchase financial and homeowner education and counseling. Financially informed, low-income families with mortgages of appropriate size and with reasonable terms prove to be successful homeowners, benefiting themselves, their children, their neighborhoods, and the communities in which they live.
IHA has helped more than 300 families attain their dream of homeownership. Of these, approximately 60% are single mothers who wanted to be strong role models for their children – to show that “where there is a will there is a way” to reach your goals in life. More than 80% of these households needed financial counseling before they became qualified for a mortgage. Some of these households took several years before they were ready, but they refused to give up on their dream, and IHA provided the guidance they required every step of the way.
Homeownership programs like IHA’s help to reduce, even eliminate, the racial and income barriers that have historically and still currently exist, allowing families increased access to neighborhoods with better school districts and safer living conditions. For more information on IHA’s current homeownership program, please visit https://www.interfaithhousing.org/purchase-repair-homeownership.
A quarter of grant wins, community partnerships, and small moments that remind us why this work matters. Here's what's been happening at Interfaith Housing Alliance since the summer. GRANTS & FUNDING: Four New Grants Fuel IHA's Work This Quarter Interfaith Housing Alliance is proud to announce four funding awards totaling $220,000 during the last quarter from our community partners. In June 2026, IHA was awarded a $30,000 grant by Ausherman Family Foundation. This capacity-building grant will provide funding support for the organization during its transition to new leadership. It will also support IHA's work with key community consultants with the goal of recentering IHA's programs and services in Frederick, MD. In July 2026, IHA was awarded a $125,000 grant from Morgan Stanley. This operational grant supports IHA in its ongoing quest to create and provide affordable housing opportunities for low- to moderate-income (LMI) community members. It also supports IHA's continued community programming, which provides access to financial education and affordable homeownership opportunities. In August 2026, IHA received two funding awards in support of IHA's Financial Dignity and Empowerment Services. IHA was awarded a $30,000 grant from the Maryland Department of Housing and Community Development's (DHCD) Maryland Housing Counseling Fund (MHCF). IHA was also awarded a $35,000 grant by Rural Maryland Council (RMC) through their Maryland Agricultural Education and Rural Development Assistance Fund (MAERDAF) program. These grants will support the full spectrum of community programming IHA offers, including group educational workshops on financial health, individualized financial coaching and housing counseling, and pathways to affordable homeownership. We are deeply grateful to these partners for their continued investment in this community.
Exciting, the final renovations of the last two units are underway at Weinberg House, a long-standing affordable senior living community in Fredrick, Maryland. Originally built in 1994, the property provided safe, stable housing for older adults for decades. Renovations began on May 1, 2023. At that time, they had a total of 23 units to renovate. The renovations included freshly painted walls, new carpet in the bedrooms, new flooring in the other rooms, new cabinets in the bathroom, as well as new kitchen cupboards, fixtures and new appliances. The final two units will be ready for lease up June 15, 2026. The renovation of Weinberg House represents a meaningful investment in both people and place. By modernizing the property while protecting its mission, this project will help ensure that affordable, welcoming housing remains available for seniors for years to come. It is an encouraging example of how thoughtful redevelopment can strengthen communities and honor the residents who call them home.
In March 2026, IHA was awarded a $50,000 grant through the Frederick County Government’s Helping Empower Area Resources Together (HEART). These one-time operational funds were awarded to mitigate the effects of the longest federal government shutdown in history. This grant has allowed IHA to continue providing essential programs and services to Frederick County residents despite challenges at the federal level. IHA was also awarded a $5,000 grant from the City of Frederick through the Community Promotion Grant program. This grant supports aging in place and youth development needs among City residents through IHA’s Supportive Services. The program serves residents of IHA’s senior and multi-family affordable rental communities at 222 Broadway Street (Weinberg House) and 520 N. Market Street, respectively. In April 2026, IHA was also awarded a $25,000 Community Partnership Grant from Frederick County Government. This grant supports IHA’s full range of Financial Dignity and Empowerment Services, including our homeownership and financial education programming. IHA’s Purchase-Repair Program provides an avenue to homeownership for those who otherwise would not qualify for a traditional home loan. In Credit Café, participants work specifically on improving their credit. Financial Freedom Bootcamp helps participants improve their skills in budgeting, saving, debt reduction, and financial goal setting. The Frederick Affordable Housing Incubator (FAHI) brings multiple sectors together to increase the affordable housing inventory in Frederick County.